The BSE Sensex hit a record high for an eighth consecutive session as potential bank licence candidates such as IDFC Ltd surge after the Election Commission allowed the Reserve Bank of India to announce new bank licences before the outcome of general elections set to conclude next month.

The BSE Sensex is up 0.32 percent after earlier rising as much as 0.65 percent to an all-time high of 22,592.10, while the Nifty gains 0.3 percent after earlier gaining 0.63 percent to a record high of 6,763.50.

Brokers said trading sentiments remained positive as foreign investors indulged in pumping more funds into Indian equities amid a firming trend in the Asian region, following overnight gains in the US markets on positive manufacturing data.